Bear run continues on losses by big-cap stocks

Bear run continues on losses by big-cap stocks

Nigerian stocks posted further loss on Thursday as the benchmark index tapered by 0.81 per cent as big-cap equities like MTNN and Dangote Cement contributed most to the slide.

The industrial index, the only one to fall of the five sectorial indices tracked by the bourse, dipped 1.19 per cent on account of depreciation recorded by WAPCO and Dangote Cement.

Trade ended with a positive breadth with 24 gainers recorded against 22 losers.

The all-share index inched lower by 319.08 basis points to 39,114.73, while market capitalisation dipped to N20.470 trillion. Year to date, the index is down 2.87 per cent.


Conoil led the flock of gainers, appreciating by 10 per cent to close at N18.70. Seplat added 9.99 per cent to end trade at N604.40. Linkage Assurance went up by 8.62 per cent to N0.63. Access rose to 8.10, notching up 5.19 per cent in the process. AIICO completed the top 5, climbing by 4.88 per cent to N1.29.


BOC Gases topped losers, declining by 9.99 per cent to close at N12.25. Livestock shed 9.90 per cent to end trade at N1.73. Scoa fell to N2.15, losing 9.66 per cent. Red Star Express slumped to N3.11, recording 9.59 per cent depreciation. Regal Insurance closed at N0.29, going down by 9.38 per cent.


Altogether, 403.512 million shares estimated at N4.810 billion were traded in 4,342 deals.

Access was the most active stock with 105.868 million of its stocks worth N844.219 million traded in 496 deals. NEM traded 38.679 million shares priced at N77.336 million in 23 transactions. FBN Holdings had 35.406 million shares valued at N258.661 million traded in 219 deals. Zenith traded 29.432 million shares estimated at N641.830 million in 419 transactions. Fidelity traded 22.310 million shares valued at N49.602 million in 102 deals.

Stay in the Know!

Sign up for the latest news and information on African Companies and Economy.

By signing up, you agree to receive MoneyInAfrica offers, promotions and other commercial messages. You may unsubscribe at any time.

Leave a Reply